A luxury residential plot at the Peak which the government failed to sell two years ago has been included in the administration’s land-sale programme for the October-to-December quarter. This time, the residential site on Mansfield Road at the Peak will be divided into two parcels for disposal. Our Alex Leung said it will help to reduce the risk of bid failure and can attract more developers to bid. However, the land price is hard to set a new high.
CHFT Advisory & Appraisal values the site at about HK$11.2 billion to HK$12.4 billion, or about HK$39,000 to HK$43,000 per buildable sq ft.
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